GPS - Why Bed Bath & Beyond and Other Retail Stocks Fell Today
Shares of several brick-and-mortar retail chains closed lower on Wednesday, amid renewed fears that a surge in coronavirus cases could halt the ongoing reopening of the U.S. economy.
Here's where these three companies' stocks ended the session:
While the rate of new COVID-19 cases has been declining in New York, the outbreak's early U.S. epicenter, they've been rising in other parts of the country -- and the rate of increase is, well, increasing. According to the Wall Street Journal, 33 states, including several large states that reopened in May, had a seven-day average of new cases on Tuesday that was higher than their average during the past two weeks.